Q2 2024 EPS Estimates for Nucor Co. Decreased by Analyst (NYSE:NUE)

Nucor Co. (NYSE:NUE) – Seaport Res Ptn lowered their Q2 2024 EPS estimates for shares of Nucor in a research note issued on Tuesday, April 23rd. Seaport Res Ptn analyst M. Englert now forecasts that the basic materials company will post earnings of $3.23 per share for the quarter, down from their prior estimate of $3.84. The consensus estimate for Nucor’s current full-year earnings is $12.82 per share. Seaport Res Ptn also issued estimates for Nucor’s FY2024 earnings at $12.70 EPS, Q1 2025 earnings at $3.50 EPS, Q2 2025 earnings at $3.86 EPS, Q3 2025 earnings at $3.37 EPS and FY2025 earnings at $13.44 EPS.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. UBS Group began coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. Finally, BMO Capital Markets reduced their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Nucor has an average rating of “Hold” and an average target price of $193.14.

Nucor Price Performance

NYSE NUE opened at $175.42 on Friday. The company has a 50-day moving average price of $190.62 and a 200-day moving average price of $174.45. Nucor has a 52 week low of $129.79 and a 52 week high of $203.00. The company has a quick ratio of 2.35, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $42.10 billion, a P/E ratio of 10.32 and a beta of 1.61.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.45 EPS.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.23%. Nucor’s payout ratio is presently 12.71%.

Insider Buying and Selling at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock valued at $7,308,683 over the last ninety days. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nucor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUE. SVB Wealth LLC raised its holdings in shares of Nucor by 1.5% during the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after acquiring an additional 54 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Nucor by 6.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 54 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in Nucor by 0.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its position in Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake in shares of Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.